Marathon’s Bitcoin Reserves Increase To 5134 Btc

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In the first quarter of 2021, the American mining company Marathon Digital Holdings mined 196 BTC. The total volume of the firm’s assets in the first cryptocurrency reached 5134.2 BTC worth about $ 301 million.

In January, Marathon allocated $ 150 million from reserves for the purchase of the first cryptocurrency. The company acquired 4,813 BTC through the New York Digital Investment Group (NYDIG) fund manager.

As of March 31, Marathon’s combined fiat and bitcoin liquid assets totaled $ 513.9 million, according to a press release.

The company said it received approximately 10,300 Antminer S-19 Pro miners from Bitmain during the quarter. The company was unable to complete the installation of new equipment by the end of the period, and as of March 31st, its fleet consisted of 6,800 devices that generated a hash rate of approximately 0.71 EH / s.

Marathon expects that the delivery of all previously acquired miners from Bitmain will be completed by the end of the year. The company plans to put them into operation by March 31, 2022, bringing the number of operating devices to 103,120 units. Their total hash rate will be about 10.37 EH / s.

In September 2020, Marathon signed a contract with Bitmain to purchase 10,500 Antminer S19 Pro. In October, the firm agreed with the manufacturer to supply another 10,000 units. At the end of the year, the companies signed a contract for 70,000 miners. The deal amounted to $ 170 million.

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